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Tech Stocks Boost Nikkei

TOKYO -- Shares rose sharply Monday, buoyed by advancing technology stocks, and as investors took last week's rebound in U.S. shares as a sign of further gains.

The Nikkei 225 average rose 647.77 points, or 4.9%, to 13862.31, its highest level since Jan. 24. The Topix Index of all Tokyo Stock Exchange First Section issues gained 56.03, or 4.4%, to 1337.63. On the first section, advancing issues led decliners 1,371 to 67, with 34 stocks unchanged. Volume was 1.196 billion shares.

Daiei
surged 25% to 195 yen after the company's executive told the Nihon Keizai Shimbun in an interview that the retailer will target up to 8 billion yen in parent-only pretax profit for the six months to August.

On the Nasdaq Japan market,
Photonics
debuted at 2.1 million yen, compared with its premarket price of 1.2 million yen, and finished at 2.5 million yen.